1225 Westfield Ave Reno, NV 89509
- Medical offices
- 15,960 SF
- 0.66 lot acres
Current Use by Public Records
- Gerber Medical Clinic / Medical Clinic
- Good Elephant at the Gerber Clinic / Yoga Studio / Meditation Center
- Chapter 13 Trustee Office / Attorney
- Gerber Josh / Nursing Agency
- Robert Floyd, MD / Doctor / Family Practice Physician
Property Details for 1225 Westfield Ave
- Year built
- 1963
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.66 lot acres
- Property size
- 15,960 SF
- Zone code
- NC
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 010-201-02
- APU
- 1020102
Description
This exceptional two-story, 15,960 square foot medical office building in Reno, Nevada, presents a compelling investment opportunity. Priced at $3,400,000, it boasts a 7.02% cap rate and a strong net operating income of $238,847, reflecting a 94% occupancy rate. The property features four tenants, including a partial leaseback to Gerber Medical Clinic for three years (negotiable at closing), providing immediate and stable cash flow. Three smaller vacancies offer potential for NOI growth. Built in 1963, the Class C building sits on a 0.66-acre lot with 45 parking spaces and is zoned NC. The gross lease structure includes 3% annual rent bumps. The building comprises seven units across two stories and is located at 1225 Westfield Avenue, Reno, NV 89509, offering convenient access to California Avenue, Booth Street, downtown Reno, and the Truckee River. This stabilized investment is an excellent opportunity for investors seeking a strong return in a desirable Reno location. The property's central location between Reno High School and Shops at the Village shopping center adds to its appeal.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Reno
- County
- Washoe
- State
- Nevada
- Longitude
- -119.828
- Latitude
- 39.5161
- CBSA code
- 39900
- CBSA name
- RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA
